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Oromia Bank Posts Strong Profits, Accelerates Fintech Expansion


Oromia Bank Posts Strong Profits, Accelerates Fintech Expansion

Oromia Bank concluded the 2024/25 fiscal year with a positive performance. Profit before tax surpassed 12 billion Br, exceeding the target by 105 pc, while tax contributions rose to approximately 2.6 billion Br, up 155 pc from the previous year, reflecting disciplined financial management. For the first time, the bank successfully rebalanced its revenue and expense structure, allowing profits to grow significantly faster than costs. Customer engagement also reached new heights. The bank's customer base expanded to over 6.9 million, while more than 4.5 million users were active on the Oro Digital App as of June 30, 2025. Oromia Bank strengthened its digital offerings through collaborations with fintech partners, launching the Milkii App and the Milkii Digital Financing Platform, which now support over 80,000 borrowers. These initiatives have not only broadened financial inclusion but also boosted revenue through innovative digital solutions.

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Radar

Federal Prosecutors Accuse Public Officials, Contractors of Corruption, Alleged Illicit Fund Transfers

Federal prosecutors have filed corruption and money laundering charges against 11 defendants, including Nigstu Bogale, Coordinator of the Development Project for Response to the Impact of Refugees in the Horn of Africa at the Ministry of Agriculture, Biniyam Fantaye and Taye Habte, senior irrigation engineers involved in the Development Response to Displacement Impacts Project (DRDIP-II), as well as private individuals and construction company representatives. The case alleges losses and illicit...


Radar

EIH Transitions to New Headquarters as It Oversees Major State-Owned Enterprises

Ethiopian Investment Holdings (EIH) is relocating its headquarters from its current site on General Wingate Street. The former headquarters was located behind the Ministry of Industry and near Abrehot Library. The new office is expected to be on Mozambique Street, along the route from Mexico Square to Bulgaria Road. The building belongs to one of EIH's subsidiaries, and all departments are set to move there as interior design and finishing works continue. Under the leadership of Brook Taye...


Radar

Import Substitution Push Lifts Domestic Manufacturing, Industrial Recovery

A push for import substitution and industrial expansion has prioritised 96 strategic products for local manufacturing. The “Ethiopia Tamirt” initiative reports 4.85 billion dollars in savings, supported by trade fairs linking local producers to domestic and international markets. On average, 700 new projects enter the market annually, contributing to more than 2,800 investments over four years. At the grassroots level, 18,000 SMEs have been established, while 993 dormant factories have...